Day trade
Trade view / 10 August 2016 at 9:55 GMT

UPDATE: Loonie may rebound

FX Consultant / IFXA Ltd

The original trade view expected additional USDCAD selling as the impact of the strong US employment report faded and from a bounce in oil prices. Both events occurred but USDCAD continued to decline despite WTI prices retreating from Tuesday's peak of $43.50.

The US dollar came under renewed pressure in part because of weak US productivity data and dovish comments from the Fed's Jerome Powell, but mostly do to profit taking in a thin market.

Nevertheless, the profit target was achieved and the trade closed for a gain of .0095 points.

Note:  The second sell order was never filled.

Original Parameters

Entry: sell ½ USDCAD at market (currently 1.3145 balance at 1.3190.

Stop: 1.3215.

Target: 1.3040.

Time horizon: Four days.

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
10 August
Hisham Boulos Hisham Boulos
Nice one Mike .. many thanks
10 August
joe200002 joe200002
Thanks mike , that was very quick:)
10 August
Michael O'Neill Michael O'Neill
A bit lucky.... The USDCAD move up was just as fast so a fast down move was a probability


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